{"id":649544,"date":"2024-10-24T04:00:57","date_gmt":"2024-10-24T04:00:57","guid":{"rendered":"https:\/\/www.wncen.com\/?p=649544"},"modified":"2024-10-23T16:52:29","modified_gmt":"2024-10-23T16:52:29","slug":"bitcoin-network-fundamentals-turn-bullish-here-are-the-details","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/","title":{"rendered":"Bitcoin\u2019s Network Fundamentals Turn Bullish\u2014Here Are The Details"},"content":{"rendered":"<p>Amid the ongoing Bitcoin price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D has <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/6718f78289c8224c1bcc2291-Bitcoin-Network-Fundamentals-Turn-Positive\" target=\"_blank\" rel=\"noopener nofollow\">highlighted<\/a> key shifts in the asset&#8217;s network fundamentals.<\/p>\n<p>This key shift in Bitcoin&#8217;s network fundamentals includes the rise in Bitcoin\u2019s hashrate, which has surged to an all-time high, marking a significant milestone for the network.<\/p>\n<p>According to Mac.D in a recent post on the CryptoQuant QuickTake platform, the rise in BTC hashrate, which measures the computational power miners use, suggests &#8220;intensified competition&#8221; among miners, driving up the mining difficulty to <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-options-traders-set-sights-on-80000-by-november-end-regardless-of-us-election-outcome\/\" target=\"_blank\" rel=\"noopener \">unprecedented levels<\/a>.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-quarterly-performance-hints-at-possible-correction-heres-what-you-should-know\/\" target=\"_blank\" rel=\"noopener \">Bitcoin\u2019s Quarterly Performance Hints At Possible Correction\u2014Here\u2019s What You Should Know<\/a><\/div>\n<h2 data-pm-slice=\"1 1 []\">The Signals: Active Addresses And Mining Difficulty<\/h2>\n<p data-pm-slice=\"1 1 []\">This increase in mining difficulty indicates Bitcoin\u2019s growing intrinsic value. According to Mac.D, for long-term investors, commonly called &#8220;SmartMoney,&#8221; this makes Bitcoin an increasingly attractive investment.<\/p>\n<p data-pm-slice=\"1 1 []\">Historically, a higher hashrate and mining difficulty are positive indicators for the Bitcoin network, reflecting strong miner activity and a <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-retail-demand-rises-13-in-1-month-time-for-q4-2024-rally\/\" target=\"_blank\" rel=\"noopener \">more secure network<\/a>. The analyst\u2019s observations come as Bitcoin has recently experienced a recovery in price after months of consolidation.<\/p>\n<p data-pm-slice=\"1 1 []\">Another important factor contributing to Bitcoin\u2019s positive network fundamentals is the surge in active Bitcoin addresses. Mac.D pointed out that the number of <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/53-of-binance-traders-are-shorting-bitcoin-what-does-this-mean-for-price-action\/\" target=\"_blank\" rel=\"noopener \">active addresses<\/a>, measured over 30 days, has risen steadily since mid-September.<\/p>\n<p data-pm-slice=\"1 1 []\">This increase in active addresses indicates greater user engagement with the network as more people send and receive Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> Network Fundamentals Turn Positive<\/p>\n<p>\u201cBitcoin&#8217;s network fundamentals are exhibiting patterns similar to those observed during previous bullish periods. Even if a correction or consolidation phase occurs in the near future, there is a strong likelihood of a positive trend\u2026 <a href=\"https:\/\/t.co\/XBWCmNymKT\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/XBWCmNymKT<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/56935633?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">October 23, 2024<\/a><\/p><\/blockquote>\n<h2 data-pm-slice=\"1 1 []\">Increase In Bitcoin Network Fees<\/h2>\n<p>In addition to the rise in active addresses, Bitcoin&#8217;s total network fees have also increased, driven by a spike in on-chain transactions. Mac.D noted that this pattern is typical during bullish periods, where a price rally leads to more transactions increasing network fees.<\/p>\n<p>The rising fees and the surge in active addresses point to heightened network activity\u2014a positive sign for Bitcoin\u2019s <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-profitability-index-202-previous-bull-runs\/\" target=\"_blank\" rel=\"noopener \">overall health and adoption<\/a>.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-profitability-index-202-previous-bull-runs\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Profitability Index Hits 202%: Is This Enough For A Top?<\/a><\/div>\n<p data-pm-slice=\"1 1 []\">The analyst also compared the current network activity to previous bullish periods, noting <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-quarterly-performance-hints-at-possible-correction-heres-what-you-should-know\/\" target=\"_blank\" rel=\"noopener \">similarities in on-chain behaviour<\/a>. The analyst noted:<\/p>\n<blockquote>\n<p data-pm-slice=\"1 1 []\">Even if a correction or consolidation phase occurs in the near future, there is a strong likelihood of a positive trend emerging.<\/p>\n<\/blockquote>\n<p data-pm-slice=\"1 1 []\">Notably, the increasing hashrate, rising transaction volume, and surging network fees all contribute to a more solid Bitcoin ecosystem, signaling that the network is becoming more resilient and attractive to miners and investors.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/yv33JeTV\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">BTC price is moving upwards on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=OANDA%3AXAUUSD\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amid the ongoing Bitcoin price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D has highlighted key shifts in the asset&#8217;s network fundamentals. This key shift in Bitcoin&#8217;s network fundamentals includes the rise in Bitcoin\u2019s hashrate, which has surged to an all-time high, marking a significant milestone for the network. According to Mac.D in a recent post on the CryptoQuant QuickTake platform, the rise in BTC hashrate, which measures the computational power miners use, suggests &#8220;intensified competition&#8221; among miners, driving up the mining difficulty to unprecedented levels. Related Reading: Bitcoin\u2019s Quarterly Performance Hints At Possible Correction\u2014Here\u2019s What You Should Know The Signals: Active Addresses And Mining Difficulty This increase in mining difficulty indicates Bitcoin\u2019s growing intrinsic value. According to Mac.D, for long-term investors, commonly called &#8220;SmartMoney,&#8221; this makes Bitcoin an increasingly attractive investment. Historically, a higher hashrate and mining difficulty are positive indicators for the Bitcoin network, reflecting strong miner activity and a more secure network. The analyst\u2019s observations come as Bitcoin has recently experienced a recovery in price after months of consolidation. Another important factor contributing to Bitcoin\u2019s positive network fundamentals is the surge in active Bitcoin addresses. Mac.D pointed out that the number of active addresses, measured over 30 days, has risen steadily since mid-September. This increase in active addresses indicates greater user engagement with the network as more people send and receive Bitcoin. #Bitcoin Network Fundamentals Turn Positive \u201cBitcoin&#8217;s network fundamentals are exhibiting patterns similar to those observed during previous bullish periods. Even if a correction or consolidation phase occurs in the near future, there is a strong likelihood of a positive trend\u2026 pic.twitter.com\/XBWCmNymKT \u2014 CryptoQuant.com (@cryptoquant_com) October 23, 2024 Increase In Bitcoin Network Fees In addition to the rise in active addresses, Bitcoin&#8217;s total network fees have also increased, driven by a spike in on-chain transactions. Mac.D noted that this pattern is typical during bullish periods, where a price rally leads to more transactions increasing network fees. The rising fees and the surge in active addresses point to heightened network activity\u2014a positive sign for Bitcoin\u2019s overall health and adoption. Related Reading: Bitcoin Profitability Index Hits 202%: Is This Enough For A Top? The analyst also compared the current network activity to previous bullish periods, noting similarities in on-chain behaviour. The analyst noted: Even if a correction or consolidation phase occurs in the near future, there is a strong likelihood of a positive trend emerging. Notably, the increasing hashrate, rising transaction volume, and surging network fees all contribute to a more solid Bitcoin ecosystem, signaling that the network is becoming more resilient and attractive to miners and investors. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":649547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,654,679,680,1119,78790,6664],"class_list":["post-649544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-bitcoin-network","tag-bitcoin-price","tag-bitcoin-price-analysis","tag-btc","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Network Fundamentals Turn Bullish\u2014Here Are The Details<\/title>\n<meta name=\"description\" content=\"Amid Bitcoin ongoing price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Network Fundamentals Turn Bullish\u2014Here Are The Details\" \/>\n<meta property=\"og:description\" content=\"Amid Bitcoin ongoing price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-24T04:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-23T16:52:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samuel Edyme\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@0xEdyme\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samuel Edyme\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/\"},\"author\":{\"name\":\"Samuel Edyme\",\"@id\":\"https:\/\/www.wncen.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500\"},\"headline\":\"Bitcoin\u2019s Network Fundamentals Turn Bullish\u2014Here Are The Details\",\"datePublished\":\"2024-10-24T04:00:57+00:00\",\"dateModified\":\"2024-10-23T16:52:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/\"},\"wordCount\":492,\"publisher\":{\"@id\":\"https:\/\/www.wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024\",\"keywords\":[\"bitcoin\",\"bitcoin market\",\"Bitcoin network\",\"bitcoin price\",\"Bitcoin price analysis\",\"btc\",\"BTCUSDT\",\"crypto\"],\"articleSection\":[\"Bitcoin News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/\",\"url\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/\",\"name\":\"Bitcoin Network Fundamentals Turn Bullish\u2014Here Are The Details\",\"isPartOf\":{\"@id\":\"https:\/\/www.wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024\",\"datePublished\":\"2024-10-24T04:00:57+00:00\",\"dateModified\":\"2024-10-23T16:52:29+00:00\",\"description\":\"Amid Bitcoin ongoing price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#primaryimage\",\"url\":\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024\",\"contentUrl\":\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024\",\"width\":1024,\"height\":1024,\"caption\":\"Bitcoin\u2019s Network Fundamentals Turn Bullish\u2014Here Are The Details\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin\u2019s Network Fundamentals Turn Bullish\u2014Here Are The Details\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.wncen.com\/#website\",\"url\":\"https:\/\/www.wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/www.wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/www.wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/www.wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.wncen.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500\",\"name\":\"Samuel Edyme\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"caption\":\"Samuel Edyme\"},\"description\":\"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/www.wncen.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Network Fundamentals Turn Bullish\u2014Here Are The Details","description":"Amid Bitcoin ongoing price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Network Fundamentals Turn Bullish\u2014Here Are The Details","og_description":"Amid Bitcoin ongoing price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D...","og_url":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-10-24T04:00:57+00:00","article_modified_time":"2024-10-23T16:52:29+00:00","og_image":[{"width":1024,"height":1024,"url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024","type":"image\/jpeg"}],"author":"Samuel Edyme","twitter_card":"summary_large_image","twitter_creator":"@0xEdyme","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Samuel Edyme","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#article","isPartOf":{"@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/"},"author":{"name":"Samuel Edyme","@id":"https:\/\/www.wncen.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500"},"headline":"Bitcoin\u2019s Network Fundamentals Turn Bullish\u2014Here Are The Details","datePublished":"2024-10-24T04:00:57+00:00","dateModified":"2024-10-23T16:52:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/"},"wordCount":492,"publisher":{"@id":"https:\/\/www.wncen.com\/#organization"},"image":{"@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#primaryimage"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024","keywords":["bitcoin","bitcoin market","Bitcoin network","bitcoin price","Bitcoin price analysis","btc","BTCUSDT","crypto"],"articleSection":["Bitcoin News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/www.wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/","url":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/","name":"Bitcoin Network Fundamentals Turn Bullish\u2014Here Are The Details","isPartOf":{"@id":"https:\/\/www.wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#primaryimage"},"image":{"@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#primaryimage"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024","datePublished":"2024-10-24T04:00:57+00:00","dateModified":"2024-10-23T16:52:29+00:00","description":"Amid Bitcoin ongoing price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D...","breadcrumb":{"@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#primaryimage","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024","contentUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024","width":1024,"height":1024,"caption":"Bitcoin\u2019s Network Fundamentals Turn Bullish\u2014Here Are The Details"},{"@type":"BreadcrumbList","@id":"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.wncen.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin\u2019s Network Fundamentals Turn Bullish\u2014Here Are The Details"}]},{"@type":"WebSite","@id":"https:\/\/www.wncen.com\/#website","url":"https:\/\/www.wncen.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/www.wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/www.wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/www.wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/www.wncen.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500","name":"Samuel Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/www.wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin\u2019s Network Fundamentals Turn Bullish\u2014Here Are The Details","url":"http:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin market","bitcoin network","bitcoin price","bitcoin price analysis","btc","btcusdt","crypto"],"dateCreated":"2024-10-24T04:00:57Z","datePublished":"2024-10-24T04:00:57Z","dateModified":"2024-10-24T04:00:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin\\u2019s Network Fundamentals Turn Bullish\\u2014Here Are The Details\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/bitcoin-news\\\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/bitcoin-news\\\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin market\",\"bitcoin network\",\"bitcoin price\",\"bitcoin price analysis\",\"btc\",\"btcusdt\",\"crypto\"],\"dateCreated\":\"2024-10-24T04:00:57Z\",\"datePublished\":\"2024-10-24T04:00:57Z\",\"dateModified\":\"2024-10-24T04:00:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-23-17.45.23-A-digital-illustration-highlighting-Bitcoins-network-fundamentals-turning-bullish.-The-image-features-the-Bitcoin-symbol-with-upward-arrows-and-conne.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/649544"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=649544"}],"version-history":[{"count":3,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/649544\/revisions"}],"predecessor-version":[{"id":649551,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/649544\/revisions\/649551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/649547"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=649544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=649544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=649544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}